Curi RMB Capital LLC Buys 25,000 Shares of Primis Financial Corp. $FRST

Key Points

• Curi RMB Capital LLC increased its holdings in Primis Financial Corp. by 2.9% in the first quarter, now owning 893,536 shares valued at $8.73 million.
• The stock currently has a consensus rating of "Buy" from analysts, with a target price of $7.50, despite a recent earnings miss.
• Primis Financial recently announced a quarterly dividend of $0.10 per share, resulting in an annual yield of 3.6% and a payout ratio of -444.44%.

Curi RMB Capital LLC grew its holdings in Primis Financial Corp. (NASDAQ:FRST - Free Report) by 2.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 893,536 shares of the company's stock after acquiring an additional 25,000 shares during the period. Curi RMB Capital LLC owned 3.61% of Primis Financial worth $8,730,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in FRST. BNP Paribas Financial Markets bought a new position in Primis Financial in the fourth quarter worth approximately $51,000. MetLife Investment Management LLC raised its position in Primis Financial by 13.9% in the first quarter. MetLife Investment Management LLC now owns 12,819 shares of the company's stock worth $125,000 after acquiring an additional 1,562 shares during the period. Wells Fargo & Company MN raised its position in Primis Financial by 25.7% in the fourth quarter. Wells Fargo & Company MN now owns 12,639 shares of the company's stock worth $147,000 after acquiring an additional 2,585 shares during the period. Whipplewood Advisors LLC raised its position in Primis Financial by 47,265.2% in the first quarter. Whipplewood Advisors LLC now owns 21,788 shares of the company's stock worth $213,000 after acquiring an additional 21,742 shares during the period. Finally, AQR Capital Management LLC raised its position in Primis Financial by 25.5% in the first quarter. AQR Capital Management LLC now owns 23,904 shares of the company's stock worth $234,000 after acquiring an additional 4,864 shares during the period. 74.96% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Maxim Group assumed coverage on Primis Financial in a research note on Monday, May 12th. They set a "buy" rating and a $1.00 price objective for the company. Wall Street Zen upgraded Primis Financial from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $7.50.

Primis Financial Stock Up 0.2%

Shares of FRST stock opened at $11.25 on Friday. The company has a market capitalization of $277.20 million, a price-to-earnings ratio of -125.00 and a beta of 0.82. Primis Financial Corp. has a one year low of $7.59 and a one year high of $12.95. The company's fifty day moving average price is $11.26 and its 200-day moving average price is $10.09. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.98 and a quick ratio of 0.95.

Primis Financial (NASDAQ:FRST - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.13). The firm had revenue of $42.36 million for the quarter, compared to the consensus estimate of $28.13 million. Primis Financial had a negative net margin of 0.93% and a negative return on equity of 2.02%. Sell-side analysts expect that Primis Financial Corp. will post 1.4 EPS for the current fiscal year.

Primis Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Friday, August 8th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend was Friday, August 8th. Primis Financial's dividend payout ratio (DPR) is presently -444.44%.

Primis Financial Profile

Primis Financial Corp. operates as the bank holding company for Primis Bank that provides a range of financial services to individuals and small and medium sized businesses in the United States. Its deposit products include checking, NOW, savings, and money market accounts, as well as certificates of deposits.

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